Bangladesh plans to improve doing business ranking by FY20

The government has set a plan to bring down the country's position in doing business ranking to below 100 from the existing 176 within fiscal year 2019-20 (FY20), the end year of the implementation of the 7th five year plan (FY 2015-16 to FY2019-20), reports BSS. 

"Bangladesh has advanced two notches to 176th, among 189 countries, from the revised 178th position of Dong Business-2017 of the World Bank Group," Cabinet Secretary Mohammad Shafiul Alam told journalists at a briefing at the secretariat's cabinet division after a meeting with different ministries and organisations.

During the meeting, Shafiul Alam said they discussed taking up possible programmes for implementation of ten sub matrix of the ease of doing business to create an investment friendly environment in the country to boost overall investment. "Local and international experts are working relentlessly to finalize the programmes," he added.

Bangladesh Investment Development Authority (BIDA) Executive Chairman Kazi M Aminul Islam said the meeting discussed the works and responsibilities of different ministries and institutions for implementation of the programmes to bring down country's rank in doing business to double digit.

The ease of doing business index is an index created by the World Bank Group. The index is based on the average of 10 sub-indices - starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.